Central government employees news.com

Employees News

GPF Rules

April 12, 2017 by admin Leave a Comment

GPF Rules

With effect from 7th March 2017, Government has simplified and liberalised the conditions for taking advance from the fund by the subscribers for education, illness, purchase of consumer durables. Conditions and procedures for withdrawal from the fund for the purpose of education, illness, housing, purchase of motor vehicles etc. have also been liberalised. No documentary proof is required to be submitted now for advance and withdrawal applications. A simple declaration by the subscriber is sufficient. A time limit for sanction and payment of advance/withdrawal has also been fixed.

There is no proposal under consideration of Government to increase/link the rate of interest on GPF at parity with that of EPF. The interest rates on EPF are decided on the recommendations of the Central Board of Trustee (EPF) taking into account the yearly income from the investment made by EPFO. The GPF interest rate is presently fixed at par with that of PPF interest rate.

This was stated by the Minister of State in the Ministry of Personnel, Public Grievances and Pensions and Minister of State in the Prime Minister’s Office, Dr. Jitendra Singh in a written reply to question by Dr. Sunil Baliram Gaikwad, Kunwar Haribansh Singh, Shri T. Radhakrishnan, Shri Gajanan Kirtikar and Shri Bidyut Baran Mahato in the Lok Sabha today.

Source :PIB

Filed Under: PIB News

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Posts

  • Closing of domain name .nic.in for India Post ePost application and shifting to new URL i.e. http://www.epost-indiapost.gov.in
  • Dearness Allowance to Haryana Government Employees on revised scales (7th Pay Commission) i.e. 7% to 9% effective from 01.07.2018
  • Payment of Dearness Allowance to Gramin Dak Sevaks (GDS) effective from 01.07.2018 onwards
  • Central Civil Services (Revised Pay) Rules, 2008 – Entry pay for direct recruits appointed on or after 1.1.2006 and pay fixation in the case of persons other than such direct recruits
  • AICPIN for the month of August 2018



website statistics


Copyright © 2019 · News Pro Theme on Genesis Framework · WordPress · Log in